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Physical Needs Assessments
1. MTB will visually survey the property and verify the property profile.
2. MTB will conduct a physical assessment of each property’s site, common areas, maintenance facilities, systems and a sampling of buildings/units utilizing industry standards (UPCS/FNMA/HUD).
3. The assessment results will be reviewed by MTB Quality Control staff for accuracy and completeness.
4. Reports based on the assessment results will be generated for each property to include the following information:
a. Brief overview of the properties condition and the assessment methodology.
b. A listing of all deficiencies observed during the assessment to include a cost for repair for each deficiency based on RS Means data adjusted for the geographic area.
c. A summary which provides a cost estimate for all immediate needs (backlog costs) to bring the entire property up to established standards.
d. A schedule of anticipated replacement needs for the next 20 years utilizing previously established life expectancies of applicable building components.
e. A reserve replacement chart with cost estimates based on current values and stated unit prices.
f. A review of the property with regard to Section 504, ADA and FHEO compliance and, if required, a summary detailing costs to bring each property into compliance.
g. The HUD environmental checklist, a review of previous environmental studies and a schedule outlining costs to remove/dispose vs. costs to encapsulate lead-based paint.
5. All life threatening conditions will be highlighted in the report and presented to management at the time they are observed.
6. The Client will be provided a draft report on each property for review before the final draft is prepared.